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I learned from this that an average person cannot tell the difference between 4 percent unemployment and 8 percent unemployment.  If you have 100 friends, and a few more are employed or unemployed, you can’t accurately gauge whether the economy is going up or down.  If twenty of them were unemployed, you could; in other words, you can easily see firsthand the complete disasters and depressions.  But you can’t see the changes in the normal range of most statistics.  You can’t really see the difference between 4 and 8 percent unemployment.
    —    Mark J. Penn
From his book:  “Microtrends
[I see…  It’s a downturn when “they” are unemployed; it’s a recession when “you” are unemployed; and, it’s a depression when “I” am unemployed.   —    KMAB]
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